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According to the news of hydrocarbon processing website on March 22, Vitol has reached a strategic partnership with Denmark's WPU company, which will recycle waste plastics to produce plastic oil
.
Vitol will offtake and sell recycled plastic oil produced at WPU's new pyrolysis plant in Fareviere, Odsherede, north of Copenhagen, which is expected to start production in early 2023, with two other plants due in the third quarter of 2023 When put into operation, the combined production capacity of these plants will be 160,000 tons/year of waste plastics
Plastic can be mechanically recycled up to 6-7 times
.
At this point, the cornerstones in the plastic are so damaged that they need to be incinerated or landfilled
Chris Bake, Head of Vitol Initiative, said: “The EU generates more than 17 million tonnes of plastic waste every year, and recycling plastic locally can minimise transport emissions and support European chemical companies
.
We intend to be an integral part of the European circular economy, It is a pleasure to take this important step with WPU
Nils Stilender, Chairman of the WPU Board of Directors, said: "The strategic partnership with Vitol enables WPU to continue a strong future pipeline
.
Vitol has a deep understanding of the global energy market and sustainable fuels and is fully capable Support our further development and expansion
Wu Henglei compiled from hydrocarbon processing
